ForthRight Wealth Management LLC Has $272,000 Position in McKesson Co. (NYSE:MCK)

ForthRight Wealth Management LLC lessened its position in McKesson Co. (NYSE:MCK) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 551 shares of the company’s stock after selling 59 shares during the period. ForthRight Wealth Management LLC’s holdings in McKesson were worth $272,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC bought a new stake in McKesson during the first quarter worth about $28,000. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter valued at $40,000. Carmichael Hill & Associates Inc. acquired a new position in McKesson in the second quarter worth $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson during the second quarter worth $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MCK shares. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird reissued a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $500.54 on Friday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $64.91 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.17 and a beta of 0.44. The firm has a 50 day moving average price of $512.51 and a 200 day moving average price of $550.21.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.27 EPS. Analysts predict that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.